Colombia's flag carrier airline, Avianca, is set to invest $473 million to expand its fleet by 16 aircraft in an effort to increase the number of routes it offers, according to Chief Executive Adrian Neuhauser. The airline will lease 14 Airbus A320 NEO planes and two A320 CEO planes, increasing its daily flights on domestic routes by nearly 25%, from 600 to 750.
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During a press conference in Bogota, Colombia, Neuhaser referred to the addition of almost 1 million weekly seats as "unprecedented growth" in the airline's history. He stated that the funds for the incorporation of these planes would come from Avianca's available cash and additional debt taken on leases.
The 16 planes are expected to join Avianca's fleet between October and December, and the airline's employee headcount will grow by approximately 1,200. Some of the new hires will come from Viva Air, a now-defunct Colombian budget carrier that Avianca had previously attempted to acquire before backing out due to conditions imposed by Colombia's civil aviation regulator.